The Infocomm Development Authority of Singapore (IDA) is launching a platform for mobile payment services that will have customers making contactless transactions with their phones by 2012, according to futuregov.asia.
In the IDA’s own words, the project will deliver “a secure, interoperable and scalable NFC infrastructure that provides an open and cost effective means for service providers to provide NFC mobile services to any mobile subscriber.”
The platform’s Trusted Third Party (TTP) infrastructure will comprise a connected network of banks, payment providers and mobile operators, which will grant customers access to the payment service regardless of which mobile operator they use.
According to futuregov.asia, the IDA has spent the last year installing a network of contactless payment terminals in public areas and retail outlets across Singapore, as well as establishing an over-the-air (OTA) framework and standards for NFC-enabled devices.
The IDA expects to launch at least two NFC payment services by the first quarter of 2012, with a further three services slated for 2013. Additionally, the organization hopes to have 30,000 NFC subscribers within two years, reports futuregov.asia.
Read more here.